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Crypto Community Reacts to US Lawmakers’ Debate on Bitcoin and Digital Currencies

July 18, 2018

Lawmakers in the US House of Representatives Financial Services Committee just wrapped up a hearing on Bitcoin and cryptocurrency. You can watch the full session here.

The discussion featured some key moments that the crypto community was quick to call out:

“We should remove capital gains tax on cryptocurrency purchases.” -Dr. Michel ??? #BTC #Bitcoin #TRX #Tron #ETH #Ethereum #CryptoCongress pic.twitter.com/RPmAlIJjy6

— Tron Chan ?? (@LittleTronChan) July 18, 2018

“Yes it is true that criminals have used bitcoin, but criminals have also had used airplanes, computers, & automobiles. We shouldn’t criminalize any of those instruments simply because criminals have used them.”

–@norbertjmichel at today's @FinancialCmte #CryptoCongress hearing

— Coinme (@Coinme) July 18, 2018

https://twitter.com/erikwray/status/1019652318504017920?ref_src=twsrc%5Etfw

US Congressman @BradSherman should be terminated for ignorance and lack of understanding how technology has shaped humanity for good and will continue to do so. #CryptoCongress pic.twitter.com/VHqdCLcv9w

— Neeraj Thakur (@NeerajT4) July 18, 2018

LOL this guy @BradSherman just said this at the #CryptoCongress hearing. The only way to stop anyone from buying #cryptocurrencies is to shut off the internet. Good luck with that sir! pic.twitter.com/4Isz65W2XH

— TheCoinDad (@TheCoinDad) July 18, 2018

https://twitter.com/ZacharyFigueroa/status/1019650544871223296

Congressman Bill Foster adds: I hope to hear not only about cryptocurrencies … but also digital fiat currencies. I am concerned that if a central bank had the ability to issue a digital currency, it could supplant the dollar around the world. #CryptoCongress

— Veki mojkripto.lens (?, ?) (@Veki551155) July 18, 2018

When asked by Chairman Barr whether bitcoin volatility would decline based on adoption rate, Garratt and norbertjmichel responded with a resounding “yes.” Michel adding that, “The way bitcoin is set up has a lot do with its own volatility.” #CryptoCongress

— Bitcoincorner (@bitcoincorner) July 18, 2018

The fact that #cryptocurrency is being discussed by US Congress is a positive for the future of #cryptocurrency not minding what resolution they come up with, they have helped increase awareness about cryptocurrency. Time for #advocates to drive in adoptions #CryptoCongress

— ebunayo of Africa – chief mechanic ?? (@Ebunayo08) July 18, 2018

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